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Article: Floating Hope Through IPOs; A new crop of initial offerings and secondary equity issues could bring in extra fee income, bolstering Wall Street profits.(Investment Banking)
- Article from:
- Investment Dealers' Digest
- Article date:
- August 21, 2009
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Byline: Aleksandrs Rozens
Wall Street's IPO machine has come back to life, and fees generated by investment bankers bringing companies public or selling shares for publicly traded companies may bolster profits in the third and fourth quarters.
All of that will hinge on the health of equity markets, of course, and observers caution that a pickup in volatility or sharp decline in stock prices could scotch the plans of issuers planning a trip to the public markets.
"If the [stock] market is strong in September, you will see a sizeable number of equity offerings and that will have a positive impact on earnings," says Dick Bove, bank analyst at ...